M&A Deal Summary

Neo Next+ Acquires TotalEnergies - Offshore Oil & Gas Production Businesses

On December 8, 2025, Neo Next+ acquired oil/gas exploration company TotalEnergies - Offshore Oil & Gas Production Businesses from TotalEnergies

Acquisition Highlights
  • This is Neo Next+’s 4th transaction in the Oil/Gas Exploration sector.
  • This is Neo Next+’s 4th transaction in the United Kingdom.

M&A Deal Summary

Date 2025-12-08
Target TotalEnergies - Offshore Oil & Gas Production Businesses
Sector Oil/Gas Exploration
Buyer(s) Neo Next+
Sellers(s) TotalEnergies
Deal Type Divestiture

Target

TotalEnergies - Offshore Oil & Gas Production Businesses

United Kingdom
TotalEnergies' Offshore Oil & Gas Production Businesses contains a portfolio of producing and development assets in the North Sea.

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Buyer(S) 1

Buyer

Neo Next+

Aberdeen, United Kingdom

Category Company
Founded 2019
Sector Oil/Gas Exploration
DESCRIPTION

Neo Next+ manages a portfolio of oil and gas assets, and also coordinates decommissioning programmes for mature fields, indicating the firm handles full-cycle upstream operations, including production, maintenance, and decommissioning. NEO Energy was founded in 2019 and is based in Aberdeen, United Kingdom.


DEAL STATS #
Overall 4 of 4
Sector: Oil/Gas Exploration M&A 4 of 4
Type: Divestiture M&A Deals 2 of 2
Country: United Kingdom M&A 4 of 4
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-08 Zennor Petroleum

Surrey, United Kingdom

Zennor Petroleum is an independent oil and gas company engaged in the exploration, appraisal, development, and production of hydrocarbons on the UKCS. Its assets are located across the Central, Northern, and Southern North Sea. Zennor is an established UKCS operator and currently has a production of around 5,000 boe/day. Zennor Petroleum is based in Surrey, United Kingdom.

Buy $625M

Seller(S) 1

SELLER

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees62,796
Revenue 195.6B USD (2024)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


DEAL STATS #
Overall 13 of 13
Sector: Oil/Gas Exploration M&A 4 of 4
Type: Divestiture M&A Deals 11 of 11
Country: United Kingdom M&A 2 of 2
Year: 2025 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-21 GreenFlex

Paris, France

GreenFlex specializes in energy efficiency, decarbonization, and sustainable development solutions, supporting companies and communities in their environmental transition. GreenFlex was founded in 2009 and is based in Paris, France.

Sell -